US Beef Exports Rebound and US Farm Income Expected to Sink

US Beef Exports Rebound and US Farm Income Expected to Sink

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**As harvest gets underway, California walnut farmers anticipate record crops from their orchards.

The USDA forecast a harvest of 780,000 tons and walnut marketers say they're preparing to sell the larger crop.

The California Walnut Board and Commission says it will encourage Americans to eat more walnuts as snacks, while working to expand export markets.

**July exports of U.S. beef rebounded from recent lows but remained below 2019 levels, according to data released by USDA and compiled by the U.S. Meat Export Federation.

July beef exports totaled just over 107,000 metric tons, up 36% from June but still 9% below last year. Export VALUE was $647.8 million, the highest since March but down 10% from a year ago.

U.S. pork exports, which are on a record pace in 2020, were also down from a year ago in July but increased compared to June.

**U.S. farm income, buoyed by this year’s record-setting farm subsidies, will sink in the new year with the disappearance of government payments to buffer the effects of the trade war and the pandemic on agriculture.

That’s according to the FAPRI think tank that says farm groups and Congressional allies are likely to seek billions in new federal assistance.

Stopgap programs created by the Trump administration have bolstered farm income since 2018, but those programs are scheduled to end this year.

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